June 21, 2011, 10:43 a.m. EDT
Why Bill Gross wants U.S. to go back to school
Commentary: Bill Gross says we don’t have the skills to compete
By MarketWatch
WASHINGTON (MarketWatch) — Neither political party is facing up to America’s real economic challenges, says bond-fund manager and part-time philosopher Bill Gross in his latest missive.
“Neither party has an awareness of the why or the wherefores of how to put America back to work again,” he writes on the Pimco website.
Both parties are enthralled by the deficit reduction, and aren’t even talking about making the investments the country needs to compete over the next 25 or 50 years.
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Gross’s take? Temporarily, government needs to take a larger role — not a smaller one — in the economy.
America simply doesn’t have the workforce trained to compete in today’s global economy, he argues. Instead of workers skilled in technology, math and science, we have too many people trained in finance and the liberal arts, or simply not trained at all.
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In either case, it’s an odd sight to see a billionaire bond trader who’s more liberal than anyone of consequence in the Democratic Party.
Full story: http://www.marketwatch.com/story/why-bill-gross-wants-us-to-go-back-to-school-2011-06-21?link=MW_home_latest_news
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